An elderly man committed suicide by hanging himself outside a bank in Xinxiang, Henan Province in China on Monday, after he had lost his life’s savings in a phone scam. The man, identified as a Mr. Xiong by the Henan-based City Channel, was reportedly scammed out of 10,000 yuan (1,520 US dollars), with which he had planned to start a small business of selling homemade sesame seed cakes in order to support his son’s college expenses.
After receiving a phone call by people who claimed to be working for a local bank, he had transferred his money as per the instructions given. Once he realized what had happened, he contacted the police and even sought the help of the bank. After being told that there was little hope of recovering the money, a hopeless and angry Xiong committed suicide at the gate of the bank.
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